Sumitomo Mitsui Trust Group Inc. Acquires 7,515 Shares of Waste Management, Inc. $WM

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Waste Management, Inc. (NYSE:WM) by 0.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 961,041 shares of the business services provider’s stock after buying an additional 7,515 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Waste Management worth $219,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Brighton Jones LLC raised its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. bought a new stake in Waste Management during the 1st quarter worth about $325,000. GAMMA Investing LLC raised its holdings in Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after purchasing an additional 958 shares during the last quarter. Spire Wealth Management raised its holdings in Waste Management by 2.5% during the 1st quarter. Spire Wealth Management now owns 8,012 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 196 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Waste Management by 372.2% during the 1st quarter. Golden State Wealth Management LLC now owns 2,630 shares of the business services provider’s stock worth $610,000 after purchasing an additional 2,073 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on Waste Management in a research report on Tuesday, September 30th. They set a “buy” rating and a $252.00 target price for the company. Barclays decreased their target price on Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Raymond James Financial boosted their target price on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. UBS Group decreased their target price on Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Finally, Scotiabank boosted their target price on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Waste Management Trading Down 0.7%

NYSE:WM opened at $214.56 on Friday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The business has a 50 day moving average price of $219.89 and a two-hundred day moving average price of $227.08. The company has a market cap of $86.43 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. The business’s revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is currently 48.96%.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.